Income Taxes (Tables)

9 Months Ended

Sep. 30, 2017

Income Tax Disclosure [Abstract]

Components of Income Tax Expense (Benefit)

The components of income tax expense (benefit) are as follows:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2017		2016		2017		2016
Current Federal alternative minimum tax (“AMT”) (benefit) expense	$	(8,000)	$	8,000	$	27,000	$	149,000
Current state and local tax (benefit) expense		(8,000)		(49,000)		180,000		111,000
Deferred Federal tax expense (benefit) (A)		256,000		245,000		(114,000)		1,490,000
Deferred state and local tax expense (benefit)		46,000		93,000		(88,000)		114,000
Income tax expense (B)	$	286,000	$	297,000	$	5,000	$	1,864,000
(A)   Includes an AMT deferred expense (benefit) of $8,000 and $(8,000) in the three months ended September 30, 2017 and 2016, respectively, and $(27,000) and $(149,000) in the nine months ended September 30, 2017 and 2016, respectively. (B)   The income tax expense in the nine months ended September 30, 2017 reflects the impact from the recognition of a windfall tax benefit on stock options exercised in the nine months ended September 30, 2017.